Investments in Salman Industrial City have hit $3.5 billion (BD1.3bn) and are expected to reach $7.6bn (BD2.9bn). Bahrain International Investment Park (BIIP) currently stands at approximately $750 million and is forecast to reach $1.1bn on completion of all projects, Industry and Commerce Minister Dr Hassan Fakhro told our sister paper Akhbar Al Khaleej. The current [...]
Bahrain’s sovereign wealth fund Mumtalakat said yesterday it plans to offer a 12.5 per cent stake in Bahrain Family Leisure for at least BD625,000 ($1.66 million), a 20pc premium to its current valuation. It plans to sell five million shares for a minimum price of 125 fils per share, Mumtalakat said in a statement posted [...]
GCC nations are planning to invest $109bn on rail projects in the next 10 years as officials look to solve traffic congestion issues, according to a new report by Kuwait Financial Centre (Markaz). Road expansion projects will also continue with a total of $14.45bn planned to 2019 but $3.8bn worth of highways work has been [...]
Abu Dhabi Investment House (ADIH) has announced the partial exit of its Porta Reef Fund, which funded the purchase and development of three 10-storey residential towers on Reef Island. ‘During the current tough global economic environment, the ADIH team continues to diligently work on safeguarding investors’ interest, said ADIH chief executive officer Fawaz Ali Al [...]
A private company will own and manage the BD307 million ($815 million) Expo City (Expo@bahrain) in Sakhir, Bahrain’s Ministry of Industry and Commerce said yesterday (June 29). It will be made up of the Bahrain Exhibition and Convention Authority (BECA), the Bahrain Mumtalakat Holding Company, private banks and investors, said Industry and Commerce Minister and [...]
Feasibility Study Support and Pre-Seed Capital Support pilot schemes open doors for promising entrepreneurs. Sanabis, June 21, 2009: In accordance with the National Economic Strategy 2009-2014, a realization of the strategic initiatives “Establishing Entrepreneurship Grants” and “Funding Feasibility Studies” has taken place with the inauguration of two pilot initiatives as a result of the partnership [...]
With the switch to the Bahrain Gateway port now completed, attention is turning to the finalised plans for a service area providing customs-free storage, warehousing and commercial facilities within the port zone. The General Organisation of Sea Ports (GOP) has completed the detailed design and drawings of the facility, and is now inviting potential investors [...]
The Central Bank of Bahrain announces that the latest Sukuk issuance of the Government of the Kingdom of Bahrain has been successfully placed. The initial size of the Sukuk offering was $500m, but the issue was oversubscribed by almost 8 times. As a result, the value of the Sukuk was raised to $750m. Sh. Salman [...]
Central Municipal councillors yesterday pledged to stand their ground and continue battling against plans to build a private university in Salmabad on a land originally allocated for a public park. They pledged to reject the project should it be presented to them because the sell-off had never been discussed with them. The land, estimated to [...]
The oil and gas affairs minister for Bahrain has said that the kingdom is planning to invest US$20 billion in the development of its hydrocarbons sector. Bahraini newspaper the Gulf Daily News reported that Dr Abdulhussain Mirza said $15 billion would be spent developing the Bahrain oil field with another $5 billion being used to [...]
